Symbotic (NASDAQ:SYM) Stock Price Up 1% – Still a Buy?

Symbotic Inc. (NASDAQ:SYM) rose 1% during mid-day trading on Monday . The company traded as high as $54.69 and last traded at $54.35. Approximately 1,305,165 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 2,106,324 shares. The stock had previously closed at $53.79.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded Symbotic from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. TD Cowen reissued a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Finally, Northland Securities set a $73.00 price target on Symbotic in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.57.

Symbotic Stock Up 1.0%

The stock has a fifty day moving average price of $60.56 and a two-hundred day moving average price of $60.52. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of -543.45, a PEG ratio of 5.39 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The company had revenue of $629.99 million for the quarter, compared to analysts’ expectations of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. As a group, research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider William M. Boyd III sold 15,000 shares of Symbotic stock in a transaction on Monday, January 5th. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO James Kuffner sold 77,321 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $59.76, for a total value of $4,620,702.96. Following the sale, the chief technology officer owned 144,982 shares of the company’s stock, valued at $8,664,124.32. This represents a 34.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,204,212 shares of company stock worth $385,123,962 over the last 90 days. Company insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its holdings in Symbotic by 32.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company’s stock worth $502,000 after acquiring an additional 2,056 shares in the last quarter. NewEdge Advisors LLC raised its stake in Symbotic by 278.4% during the fourth quarter. NewEdge Advisors LLC now owns 9,711 shares of the company’s stock valued at $578,000 after buying an additional 7,145 shares in the last quarter. Twinbeech Capital LP bought a new position in Symbotic during the 4th quarter worth approximately $1,515,000. Polymer Capital Management US LLC acquired a new position in shares of Symbotic in the 4th quarter worth approximately $279,000. Finally, Readystate Asset Management LP bought a new stake in shares of Symbotic in the 4th quarter valued at approximately $470,000.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.